Credit Specialist Job Description Template
The Credit Specialist is responsible for analyzing credit data and financial statements to determine the degree of risk involved in extending credit. They prepare reports that include their findings and recommendations. The Credit Specialist also works with customers to resolve past due accounts.
Credit Specialist Job Responsibilities
- Review and analyze credit information on potential and current customers
- Make recommendations to management regarding credit decisions
- Establish and maintain credit lines for customers
- Monitor customer credit utilization and make recommendations for line increases or decreases
- Prepare monthly reports detailing customer credit activity
- Work with sales and customer service teams to resolve customer billing issues
- Keep abreast of changes in the credit industry and provide input on potential impacts to the company
Objectives
- To develop and maintain strong relationships with clients in order to keep them satisfied with the credit products and services being provided
- To clearly communicate credit terms and conditions to clients, as well as any changes or updates, in order to avoid misunderstandings or dissatisfaction
- To monitor client accounts closely for any signs of financial distress or risk of default, and take appropriate action to mitigate these risks
- To work with clients who are experiencing financial difficulties in order to find mutually agreeable solutions that will allow them to maintain their account with the company
- To prepare accurate and timely reports on the status of client accounts as well as trends in the overall portfolio, for use by senior management
Credit Specialist Job Skills & Qualifications Needed
- A bachelor’s degree in business, finance, or a related field is preferred
- At least five years of experience in credit analysis or a related financial field
- Strong analytical and problem-solving skills
- Excellent written and verbal communication skills
- Proficiency in Microsoft Office applications (Word, Excel, PowerPoint)